Almost 18% of the global biomedical textiles market of US $ 17 billion will be generated from vascular transplants, heart valve repair and annuloplasty rings in 2021
NEW YORK, July 27, 2021 / PRNewswire / – Fact.MR – A supplier of market research and competitive intelligence: The global biomedical textiles market is expected to grow 1.4 times, exceeding a valuation of US $ 17 billion by the end of 2031, according to a study by Fact.MR. Guided by the technological innovations underway in healthcare and the growing awareness of cutting-edge medical facilities across the world, sale of biomedical textiles will increase at a CAGR of 5% over the forecast period 2021 to 2031.
This will show steady growth from the 4% CAGR expansion recorded between 2016 and 2020. Biomedical textiles are extremely crucial and are designed to meet the demand for improved patient care in the healthcare and healthcare sectors. Medicine.
The increasing number of traffic accidents and frequent incidents of the spread of infection are the major factors driving the market. According to the World Health Organization, approximately 20 to 50 million people worldwide suffer non-fatal injuries from traffic accidents.
As biomedical textiles are often used in medical care administered during first aid procedures, surgeries, implants and clinical treatments, their demand will continue to grow during the evaluation period.
The medical advancements underway in the health field will present interesting growth opportunities. For example, tissue engineering and soft tissue repair require specially designed biomedical tissue to form new tissue around them. With the increasing application of these biomedical tissues in medical technologies, the market is expected to register impressive growth over the next few years.
Fact.MR Analysis finds rapid adoption of biomedical textiles for non-implantable applications. Due to the increasing use of biomedical textiles in the manufacture of wound care products such as adhesive dressings, cohesive dressings and gauzes, the segment accounts for more than 40% of the market demand.
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“Manufacturers are increasingly investing in research and development (R&D) activities to provide innovative biomedical materials for future technologies. Their efforts are also aimed at meeting the growing demand for surgical treatments and other healthcare applications. says Fact.MR analyst.
Key points to remember from Biomedical textiles Market research
- The North America is expected to occupy nearly 30% of the global market share, with the United States contributing approximately US $ 3.5 billion of the region’s turnover.
- Due to the increasing incidence of road accidents and cardiovascular diseases, the market for China should reach a value of US $ 3 billion by 2031.
- The nonwoven fabrics segment is expected to account for over 30% of the market share, with a CAGR of 3% during the forecast period.
- The market in Japan is expected to grow at a CAGR of over 4% through 2031, aided by ongoing technological advancements in healthcare.
- Fiber-based, non-biodegradable segments should achieve a valuation of close to US $ 4.5 billion by 2031.
- The increasing incidence of traffic accidents is driving the demand for biomedical textiles in non-implantable applications.
- The increasing application of biomedical textiles in first aid procedures, implants and surgeries is driving the growth of the market.
- Ongoing technological advancements in surgical treatments and implants are fueling the demand for biomedical textiles.
- Increased investment in healthcare is expected to drive the market growth.
- The volatility of the cost of raw materials is slowing the growth of the biomedical textiles market.
- The high cost of producing biomedical textiles is a factor which is holding back the growth of the market.
- The commercialization of biomedical textiles is one of the biggest challenges for manufacturers which is holding back the growth of the market.
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Companies operating in the biomedical textiles landscape are emphasizing product launch and product approval strategies to expand their product portfolio. In addition, some market players aim to acquire other companies to expand their customer base. For example,
- In 2018, Ethicon, an American company, launched its new product, SURGICEL POWDER ABSORBABLE HEMOSTAT. The product is designed to help surgeons effectively control disruptive bleeding.
- In 2017, Smith & Nephew, a British multinational medical equipment manufacturer, acquired Rotation Medical Inc., a developer of new tissue regeneration technology. The acquisition helped the company invest in innovative technologies that address unmet clinical needs
Some of the major players operating in the biomedical textiles market presented by Fact.MR are:
- Royal DSM
- Confluent medical technologies
- Cardinal Health
- Johnson & Johnson Services Inc.
- B. Braun Melsungen SA
- Smith and nephew
- Meister & Cie SA
- Medline Industries Inc.
- ATEX TECHNOLOGIES
- Integra Life Sciences Society
- Paul Hartmann AG
- BSN Medical
More valuable information on Biomedical textiles Marlet
Fact.MR in its new report offers an unbiased analysis of the global biomedical textiles market, analyzing forecast statistics to 2019 and beyond. Survey reveals growth projections for biomedical textiles market with detailed segmentation
- Non-woven biomedical textiles
- Biomedical woven textiles
- Biomedical knitted textiles
- Biodegradable biomedical textiles
- Non-biodegradable biomedical textiles
- Biomedical textiles for implantable applications
- Biomedical textiles for non-implantable applications
- Biomedical textiles for surgical suture applications
- End use
- Biomedical textiles for ophthalmology
- Biomedical textiles for neurology
- Biomedical textiles for general surgery
- Biomedical textiles for orthopedics
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Key questions addressed in the Biomedical textiles Market report
- Report provides insight into biomedical textiles demand outlook for 2021-2031
- The market study also highlights the expected sales growth for the biomedical textiles market between 2021 and 2031.
- The analysis of the biomedical textiles market identifies the key growth drivers, restraints, and other forces impacting the prevailing trends and evaluating the current market size and forecast and technological advancements within the market. ‘industry
- Analysis of biomedical textiles market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, collaborations or partnerships, etc.
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